One of the ways to teach children about money is to help them open a bank account. Most banks will allow you to open a savings account for your child, no matter his or her age. This is an important step to building a strong credit score for your child, and it can be a [...]
With the cost of college rising and the economy still hindering young graduates’ ability to stay afloat, more parents are raiding their retirement and savings to help their kids pay for life on their own. National financial planning firm Ameriprise Financial asked more than 1,000 baby boomers if they provided some level of financial support [...]
A reader asks if bonds are still a good idea. Consider the risks of investing in a long-term bond portfolio and talk to a financial advisor. Q: On your radio show, you were discussing the possible problems in the bond market. You stated that in your opinion the bubble would eventually pop. In 2010, when [...]
Housing and transportation costs continue to burden the middle class, rising 44 percent since 2000 making up 60 percent of household budgets. For every $1 increase in income, housing and transportation costs rose $1.75. In total, a family with a moderate income (defined as 50 to 100 percent of area median income) spends nearly 60 [...]
Typical investment management fees can range depending on the type of investment, the type of account and the type of investment manager. Q: I am 64 years old, retired, with a pension from a state government. I am considering investing a portion of my IRA funds in a managed portfolio. The proposed portfolio is 83 percent [...]
If you were left with debt after the death of a spouse, gather bills, check credit, talk to the IRS and consider contacting an attorney. Q: My home is underwater, I’m at risk of foreclosure, and I have a deceased deadbeat husband. Add to that that my dead husband liked to sign my name to [...]
Don’t you just love curling up with a good money book? OK, so maybe financial volumes aren’t exactly bedtime reading. However, every family could benefit from having a couple of these books in their library. Here are some of my favorites (in no particular order). I hope you’ll read at least one this fall. There’s [...]
You never know when some type of natural disaster will befall you—one can strike at any time. If you want to get through an emergency as smoothly as possible, you need to be ready now. Following basic principles of emergency preparedness can ensure your family is ready for whatever happens—or at least is a little [...]
One of the worst feelings in the world is not knowing whether you have enough money to pay your bills. It also can be difficult when you don’t know from where your next paycheck will be coming. Financial insecurity can cause stress and anxiety in your life, and it can contribute to strain in your [...]
While your big travel plans might be focused around visiting family for the holidays, one of the best ways to enjoy family fun without a lot of planning, and without busting your budget, is to take a “staycation.” You don’t have to go very far to make memories—a staycation can be enjoyed in your own [...]
